You haven't posted enough of your implementation but I would highly recommend a CancellationToken
if that is available to you. It's simple enough to use and understand from a maintainability standpoint. You can setup cooperative cancellation as well too if you decide to have more than one worker thread.
If you find yourself in a situation where this thread may block for long periods of time, it's best to setup your architecture so that this doesn't occur. You shouldn't be starting threads that won't play nice when you tell them to stop. If they don't stop when you ask them, the only real way is to tear down the process and let the OS kill them.
Eric Lippert posted a fantastic answer to a somewhat-related question here.